Top Tory funder operates high-cost loans business. Article bookmarked

Top Tory funder operates high-cost loans business. Article bookmarked

Conservative party grandee controls firm which charges interest at 75 percent APR

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A premier Conservative Party funder is revealed today while the guy behind certainly one of Britain’s biggest high-cost lenders.

Financier Henry Angest – a buddy associated with Camerons and a former Tory Treasurer – offered the Conservatives a £5m overdraft facility fleetingly prior to the final General Election at a appealing rate of interest of simply 3.5 %.

The credit that is high-cost Mr Angest controls, Everyday Loans, charges members regarding the general public interest at a typical 74.8 per cent APR.

The news – uncovered after analysis of accounts by the Bureau of Investigative Journalism – will show embarrassing when it comes to Conservatives, as Mr Angest becomes the 2nd high-profile Tory donor making money through the growing credit industry that is high-cost.

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